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Everything posted by bomberbrown

  1. Thanks Casual Observer, I've got my head round all that now. Perhaps we should have a 'nominal' prices graph too for comparison?
  2. OK. I thought I understood yesterday, but now I'm not so sure. Whats the difference between 'nominal' prices and 'real' prices? How are 'real' prices calculated then, is it not subjective?
  3. I see what you are saying, and I take it onboard. My mate bought a 4 bedroomed/3 en-suite detached house in Nottingham back in 1996 for just £100k. At the time I was at university and I thought I would never be able to afford such a mortgage. I bet I could borrow twice that from the bank now......but I'm not prepared to buy into an over-inflated market, certainly not £245k for a modest one-bedroomed flat (recently sold next-door to me and considerably smaller - I'm not trying to show off btw) in South East London.
  4. I know, I had a look on BBC and couldn't see the report yet either. I'll have a go at bouncing the longest one I recorded down to a manageable size and upload it. BRB
  5. I quite fancy Martin Lewis. <Did I say that out loud?>
  6. I recorded both, but missed the intros. Nonetheless, the 'irony' statement was used in both (at the very end of the report) and in both showings the independant mortgage advisor recommends both IO and fixed rate mortgages. In essence, they were both the same. (can't say for the intro's though)
  7. Yes, I believe that he said that IO mortgages had increased from 6% four years ago to the now 16%
  8. Thats why Maggie (and don't get me wrong here, I'm a big Maggie fan) brought in the new tenancy regulations in the late 80's, to give landlords more power because tenants were seriously taking the pi$$. However, I think now that the favour of power is far too much in the landlords hands these days. I also beleive that the gradual knock on effect of this (amongst other things) is the scramble to get on the property ladder, and therefore be answerable to no landlord. I can see Maggies best intentions, but I think she made a big mistake with this legislation. Oh (and while I'm on my political soapbox), and the 'Poll Tax' was a fantastic idea, they should never of scrapped it. HMO anyone?
  9. Not the case if you've fixed it for 25 years. Mark my words, (not necessarily you 'Sign of the Times'), but these 25 year fixed rate mortgages are going to be a very important factor in any potential HPC and house price affordability in the future. I'm no uber economist, but I've just got this gut feeling.
  10. Bloody hell! You say that but I'm just watching a very similar bearish programme on BBC1/News24 this very moment. Theres more on Radio 4's 'money box' at noon apparently.
  11. Tosh! Try telling that to people that bought at the last peak of 1989/1990. From the graph, it took 11 years for their properties to reach the same price that they'd originally paid for them. Its an escalator in the sense of centuries, but in a lifetime I would consider a roller-coaster as being a better analogy.
  12. I've been thinking about these recently and what effect they can have on the banks and/or economy, particularly house prices. Maybe a hypothetical question, but what if everyone had their mortgages fixed for 25 years (at 5% or 6%) and then interest rates went to say about 8% or 9%, how would the banks make their money? Surely fixed over 25 years, the debt can only be inflated away?
  13. I think you'll find its a 'silent' shortage. Friends kipping on mates sofas, houses with multiple occupancy etc. More to the point, its a shortage of affordable and social housing.
  14. Interesting link. The number of people opting for fixed rate mortgages has more than doubled since 2002. And during the same period, people opting for variable rate mortgages has fallen 3-fold.
  15. At a guess, at some point in time: 1. Person owns house and freehold 2. Person converts house to 3 lease hold flats and occupies one of the flats 3. You are buying the flat from the person that has the freehold Perhaps?
  16. It's actually Copper Mill Lane (with a space). The EA have spelt it wrong. http://maps.google.co.uk/maps?f=q&hl=e...m=1&iwloc=A http://www.houseprices.co.uk/e.php?q=Coppe...+Lane&n=100
  17. I think I will. I brought this up on here because it struck me that this environment was very similar to the stories I've heard (and read here on HPC) back in the last crash, where people were selling houses down the pub for £500 and people buying up whole streets for a few thousand pounds. It just rang a bell with me, particularly as the house next door to it has got a boarded up window too.
  18. £495 equivalent mortgage doesn't sound like he'll be able to afford a decent place to buy.
  19. http://www.rightmove.co.uk/viewdetails-130...=1&tr_t=buy I used to knock around this area in Coventry as a kid/teen in the 80's. Given that is a pretty rough area, now if this was £10k, I'd be tempted to pay cash for it and sit on it till a few other likeminded people did the same and the area was regenerated. Comments?
  20. That advert really gets on my tits too! He has this massive £3k sit-on lawnmower to mow a rear lawn the size of an effing postage stamp! Also, on the Picture Loans one when he's asked how much he wants to borrow and he looks at the missus nonchalantly as they arbitrarily plump to borrow 25k, like they can't decide to buy one bag of sugar or two. Grrrrrrrr!!!! :angry:
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